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PPG completes $1.05-billion purchase of AkzoNobel North American decorative coatings unit

11:54 AM MDT | April 1, 2013 | Robert Westervelt

PPG Industries has completed the $1.05-billion purchase of AkzoNobel's North American architectural coatings business. The acquired business had 2012 sales of €1.19 billion ($1.57 billion) and Ebitda of €19 million, according to AkzoNobel. The business had 4,670 employees at the end of 2012. The acquisition “further extends PPG’s architectural coatings business in the United States, Canada, and the Caribbean and continues the accelerated pace of our business portfolio transformation,” says Charles Bunch, PPG chairman and CEO...

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